Telefónica Argentina still committed to $2.4bn investment plan

Telefónica's Argentinian arm has reassured the government over its commitment to invest $2.4 billion in the country over the next three years.

Argentina agreed that Grupo Clarin can become the country’s fourth mobile provider in December, a decision that was questioned by Telefónica de Argentina, throwing a question mark over its investment plans.

According to reports from state news agency Telam, Argentinian comms minister Oscar Aguad met with Telefónica officials on Monday to discuss the investment, giving reassurances.

Telefónica communications and institutional relations director, Alejandro Lastra, said: "Telefónica de Argentina's commitment is always there.”

The dispute over Grupo Clarin – which owns Cablevision came after President Mauricio Macri gave it permission to use its recently-bought 2.5GHz spectrum license for 4G services. Clarin gained the spectrum through a number of acquisitions in 2016.

Telefónica argued this was unfair, as it had been forced to pay for spectrum in 2014, alongside rivals Claro and Telecom Personal.